Shiba Inu is a digital cryptocurrency created by an anonymous individual known as Ryoshi. This coin was created in August 2020 and has served as a token for an anonymous community. Their only reason for existing was to conduct different experiments with their tokens. Today, it’s developed into an ecosystem that’s incredibly vibrant.
The developer got the idea from Dogecoin, a cryptocurrency created as a joke in 2013. Similar to Dogecoin, they also have an image of the Shiba Inu dog breed on their logo, except that there is also a model of a coin in the same place.
SHIB
Looking to invest in digital currencies? It is time to consider investing in the Shiba Inu coin. In recent times, it has risen from 1 USDT to 1.90 USDT, a 9.3 percent increase. Because of the current news surrounding this crypto, it is likely that this climb will continue, giving you further motivation to invest in SHIB.
Shiba coin currently has tokens in circulation in the trillions! That means limited supply will likely be an angle that pops up. Unsure if it’s worth it to invest in a coin that’s essentially a meme token? Read on to learn more about investing in Shiba Inu and why you should do it immediately!
Investing In Shiba Inu Is Ideal Since Known Personalities Are Supportive
Despite Dogecoin and Shiba Inu having no technological advantage over other, older digital currencies, these meme coins have been receiving a lot of attention on social media from celebrities. Most recently, Elon Musk, an American business magnate and inventor, posted a picture of the Dogecoin community holding a fundraiser for his space program.
The price of the coins is being driven up by the hype surrounding them. They’re a social phenomenon, like Macs and Linux. This social phenomenon is what’s propelling their value up.
Among the people who have been impressed by Dogecoin, there are a few celebrities. Guy Fieri, Mark Cuban, Elon Musk, and a few more have made an attempt to understand this crypto currency. Dogecoin will soon face a replacement, as Shiba Inu is taking over.
Investing In Shiba Inu Is Ideal Since It’s Listed In Major Crypto Exchanges
When a company’s stocks are listed on the New York Stock Exchange and other established stock exchanges, they get notable gains. The same logic applies to cryptocurrencies when they end up on major crypto exchanges.
Binance’s subsidiary WazirX exchange, one of the most established and largest crypto exchanges the world over, listed Shiba Inu after a $1 billion token donation for Covid-19 containment to be supported from Vitalic Buterin. He is the creator of ETH (Ethereum). After that listing went live, the coin doubled its price and has kept pushing on to rise.
Conclusion
While most people would think of the dog and, consequently, the meme, Shiba Inu is also a powerful player in the crypto space. Token circulation is in the trillions; supply will be limited soon enough nonetheless. Investing is ideal since it’s listed in major crypto exchanges and known personalities are supportive.
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